October 15 Morning Watch
Dated premarket walkthrough using observations around 8:35 a.m. ET on October 15. These are retained observations, not continuously live quotes. Daily candles and averages use completed regular sessions through October 14.
Good morning, everyone. PPI is out, and it's another strong inflation print. The indexes were already lower before the report. Let's look at where we closed yesterday, where we're trading in premarket, and the levels I'd want to see recovered.
Producer prices rose one point three percent in September, the biggest monthly increase since March twenty twenty-two. Excluding food and energy, they rose seven-tenths of a percent. Energy was a major part of the goods increase, but services prices also moved higher. This doesn't give us a reason to assume the selling is finished. I'm watching how price behaves when the regular session opens.
SPDR S&P 500 ETF Trust (SPY)
SPY closed near seven hundred and seventy yesterday and is around seven hundred and sixty-seven in premarket. It was near seven hundred and sixty-eight just before PPI, so most of the weakness was already there. The fifty-day average around seven hundred and sixty-nine is the first average I'd want back, then the twenty-day around seven hundred and seventy-one. Below us, the October second daily gap has a small section remaining around seven hundred and sixty-six to seven hundred and sixty-seven. Premarket has already dipped through that range; a regular-session recovery and hold would carry more weight. The September twenty-fourth low around seven hundred and sixty-three, then the September thirtieth low around seven hundred and sixty-two, are the next dated references below. For a recovery, I'd want to see price reclaim a level and hold it on a daily closing basis.
Invesco QQQ Trust (QQQ)
The Qs closed near seven hundred and twenty-nine and are around seven hundred and twenty in premarket. Tech is weaker than SPY again. Yesterday we discussed the remaining September twenty-first gap around seven hundred and twenty-two to seven hundred and twenty-six. Premarket has already traded below that area, so I'd treat it as something to recover. The fifty-day average is just above it, around seven hundred and twenty-seven. If the weakness continues, the August eleventh low is around seven hundred and sixteen, followed by the September seventeenth daily gap around seven hundred and twelve to seven hundred and thirteen. The early bounce needs to be judged against those lost levels.
Micron (MU)
Micron has been lagging heavily, and it's lower again this morning. It closed near nine hundred and fourteen and is around eight hundred and seventy-four in premarket. That's below the remaining August twelfth gap around eight hundred and seventy-nine to eight hundred and eighty-eight. I'd want that area back before calling this a successful recovery. Below us, this morning's observed low is around eight hundred and sixty-three, then the August eleventh low around eight hundred and forty-five. Yesterday's low around nine hundred and fourteen is a further reclaim above. The twenty- and fifty-day averages are well overhead, so a bounce would still have a lot to repair.
CoreWeave (CRWV)
CoreWeave closed near sixty-six after yesterday's fifteen-percent selloff and is around sixty-three in premarket. This morning we're below yesterday's low around sixty-four. That's the first level I'd want back. Below us, the July twenty-ninth low around sixty-one sits close to this morning's early low. If we get a bounce, yesterday's overhead gap around seventy-three to seventy-six is a bigger area to work through. We covered the financing risks in yesterday's stock-versus-bond review. For this setup, I'm looking for an actual daily retest and close above a reclaimed level.
Taiwan Semiconductor (TSM)
Taiwan Semiconductor reported this morning. Revenue was about forty-seven billion U.S. dollars, above its own prior guidance and up forty-one percent from a year ago. It guided the fourth quarter to roughly fifty-two to fifty-four billion. Those are strong growth numbers, but the shares are lower in premarket. They closed at four hundred and thirty and are around four hundred and eighteen now. The September seventeenth gap around four hundred and twenty to four hundred and twenty-three is overhead at this snapshot. Recovering it would be an improvement, with yesterday's low around four hundred and twenty-eight above that. Below us, the September fifteenth low is around four hundred and thirteen, then the August sixth low around four hundred and eight. I'd like to see the price action improve alongside the earnings story.
Closing notes
The gap ranges on these charts come from completed regular sessions. Premarket can trade through them before the next daily candle begins. For me, the useful question this morning is whether we can recover those areas and close back above them.
The charts and research are on YieldTerminal Pro. You can find us on YouTube at YieldTerminal Pro and on X at StockInsights sixty-nine. And remember, this is market research only, not a recommendation to buy or sell. Have a good morning.
Sources and chart basis
BLS September 2026 PPI release and Table 1, TSMC's October 15 Q3 results and company guidance, Yahoo Finance completed daily and extended-hours bars, and TradingView cross-checks. https://www.bls.gov/news.release/ppi.htm https://www.bls.gov/news.release/ppi.t01.htm https://pr.tsmc.com/japanese/news/3346 https://investor.tsmc.com/schinese/quarterly-results/2026/q3
Explore Daily Levels, Movers and market videos, and CoreWeave stock versus bond.